La. Admin. Code tit. 37 § XIII-13507

Current through Register Vol. 50, No. 9, September 20, 2024

Section XIII-13507 - Definitions

A. As used in Regulation 93, these terms shall have the following meaning ascribed herein unless the context clearly indicates otherwise.

Commissioner- the Commissioner of Insurance for the State of Louisiana.

Department - Louisiana Department of Insurance.

Deductible - a named storm or hurricane deductible as defined in a policy of homeowners' insurance.

Homeowners Insurance - a policy of insurance on a one- or two-family owner-occupied premises, which combines fire and allied lines with any one or more perils of casualty, liability, or other types of insurance within one policy form at a single premium, where the insurer's liability for damage to the premises under said policy is determined with reference to the replacement value of the premises, but does not include insurance policies written to cover manufactured homes or mobile homes.

New Business - the issuance of a new policy of homeowners' insurance.

Region- a designated and contiguous geographic area of the state identified by an insurer for the purpose of establishing regional deductibles pursuant to R.S. 22:1333(D) and R.S. 22:1265(F).

Regional Deductible- a specified named storm deductible or hurricane deductible established by an insurer for a particular region.

La. Admin. Code tit. 37, § XIII-13507

Promulgated by the Department of Insurance, Office of the Commissioner, LR 35:675 (April 2009).

AUTHORITY NOTE: Promulgated in accordance with R.S. 22:11 to enforce the provisions of R.S. 22:1333(D) and 22:1265(F).